According to the survey from London venture capital firm MMC, 40 percent of European startups that are classified as AI companies don’t actually use artificial intelligence in a way that is “material” to their businesses. MMC studied some 2,830 AI startups in 13 EU countries to come to its conclusion, reviewing the “activities, focus, and funding” of each firm.

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The NadiFin Acceleration program powered by MiddleGame Ventures and Farvest in partnership with the LHoFT focus's exclusively on cutting edge fintech startups that are using AI/ML, Big Data Analytics, Blockchain and other “deeptech” tools to create seamless solutions and businesses for the European financial services market.

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It seems times are changing, that the new challenger services seem to be swaying customers with their user friendly and customer centric solutions. A wake up call of for British banking and beyond, European banking. Doing what you have always done, will give customer what they have always got; perhaps it is time to question deeply whether customers want what they have always got, or whether they want something new.

At the Fintech for Inclusion Global Summit hosted by Accion, Quona Capital and FMO, in the Hague last week, Peter van Mierlo, the CEO of the Dutch development bank FMO didn’t mince words: “The financial sector needs to be reinvented.”

The future of financial services changed on the 2nd of February and not for any reason you’d expect. That was the date the online game Fortnite held an in-game concert that was viewed by over 10 million people live.